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Article: International Speedway Corporation to Exercise Option to Become Sole Owner of Watkins Glen International.
- Article from:
- Business Wire
- Article date:
- March 4, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DAYTONA BEACH, Fla.--(BUSINESS WIRE)--March 4, 1997--
Historic Road Course Home To Ninth-Highest Rated Winston Cup Race --
International Speedway Corporation (Nasdaq/NM: ISCA; Nasdaq Bulletin Board: ISCB) today announced it will exercise a contractual option to acquire the 50% interest it does not already own in Watkins Glen International, Inc. (WGI) from Corning, Inc. (NYSE:GLW) for approximately $3.1 million. The transaction price represents the stock s book value at December 31, 1996. WGI owns and operates Watkins Glen International, a 3.4 mile road course in upstate New York that is home to "The Bud at the Glen," a NASCAR Winston Cup series race ...
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